Paints can be considered as falling into two general categories, namely, water-based paints and solvent-based paints. Which category of paint is suitable for a given application depends on the conditions to be experienced by the paint. Conventional water-based paints have generally been considered inferior to solvent-based paints with respect to weather resistance, solvent resistance and adhesion. Recently, however, the use of solvent-based paints has become environmentally disfavored, with an emphasis being placed on achieving acceptable results with paints having a relatively low volatile organic content ("VOC"). Specifically, efforts have been made to provide paints or coating which are isocyanate-free and formaldehyde-free yet which exhibit acceptable physical characteristics.
It is therefore an object of the present invention to provide a coating composition which can be isocyanate-free and formaldehyde-free, yet exhibit good adhesion, durability, chemical resistance, water resistance and print resistance. This desired combination of properties has now been achieved by the novel coating compositions described herein.